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if warren buffett wants to pay more taxes, warren buffett can do that. in the meantime, we needto get this country back on a growth track in which a vibrant economy creates tax revenues, jobs, and a better future for everybody. coming up, more and mo compies are rushing to get out their dividends before we fall of the fiscal cliff. advice for you and your money coming up next. ♪ ♪ gerri:ome companies offering special dividends to shareholders to avoid being hit by ♪ rri: it is being called a dividend rush. lots of companies offering special dividends to shareholders who are moving up their dividend pay off date to avoid next year's tax ncrease. for moren what it means for investors, i'm joined by managing director of black rock. great to have you here. we were just talking about the fiscal cliff and how it miht be resolved. you have an interesting point of view. >> i largely think that this is the part of that the leveraging process, moving to a point where the u.s. government is, to get more fiscally sound. and so obviously last year was a much mo
if warren buffett wants to pay more taxes, warren buffett can do that. in the meantime, we needto get this country back on a growth track in which a vibrant economy creates tax revenues, jobs, and a better future for everybody. coming up, more and mo compies are rushing to get out their dividends before we fall of the fiscal cliff. advice for you and your money coming up next. ♪ ♪ gerri:ome companies offering special dividends to shareholders to avoid being hit by ♪ rri: it is being...
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Nov 28, 2012
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says warren buffett. >> oh, come on. first of all, warren buffett has other issues at hand. the reality is he's not holding the government to the same standards he would hold his investments. to cast that aside for a second, the problem is, piers, is the amount that we're talking about. when we look at for example the payroll tax cut and the obama care tax, if you put those two things together, that's over 1% of the gdp. if you throw in then the top 1% or 2% earners, that's going to put is at 1.5% or 2% of the gdp which is not a sustainable amount of tax hikes given the fact that we're in a sluggish growth period. i think that warren buffett certainly understands that. you know what mr. buffet chld tchldt, if you want to add in more refr new, go ahead. why not make this something of choice. if you feel like you can help, go ahead. put some extra money in. >> that's completely -- look, nobody has any guns to anybody's head. we have a common problem. it's called a budget deficit, particularly in out years. we have some common responsibilities and when you do consider that the
says warren buffett. >> oh, come on. first of all, warren buffett has other issues at hand. the reality is he's not holding the government to the same standards he would hold his investments. to cast that aside for a second, the problem is, piers, is the amount that we're talking about. when we look at for example the payroll tax cut and the obama care tax, if you put those two things together, that's over 1% of the gdp. if you throw in then the top 1% or 2% earners, that's going to put...
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Nov 25, 2012
11/12
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>> let me make two respectful points, warren buffett is extremely good businessman says that higher taxes will not impact his decisions to expand or not expand his buildings or factories and second thing, we're had very, very high taxes and very, very high corporate profits at the same time maybe a third thing with all due respect then what's the solution? we cannot keep running the big sits. >> i will say this with respect to the corrate profits. 1 1/2 trillion dollars is sitting outside of this country. a lot of these corporations when you dig through the numbers, every time they report, they're making money outside of this country. gary k, i think that's the point. businesses aren't making money in america, and sotimes, sometimes the public gets a little bewildered because the market's high beau that's not in direct correlation to our economy. >> i use the word potential. i've been saying this for-- it's a few years now, the potential for this economy keeps getting headwinds, what's the headwinds? the uncertainty out of washington a the potential for higher taxes. we don't have a tax p
>> let me make two respectful points, warren buffett is extremely good businessman says that higher taxes will not impact his decisions to expand or not expand his buildings or factories and second thing, we're had very, very high taxes and very, very high corporate profits at the same time maybe a third thing with all due respect then what's the solution? we cannot keep running the big sits. >> i will say this with respect to the corrate profits. 1 1/2 trillion dollars is sitting...
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Nov 26, 2012
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>>guest: okay, warren buffett has made a lot of money, some of it off of gaming the political system, he invests in insurance companies, and lobbies to raise the death tax which drives people to buy insurance. okay? you can get rich playing that game but it is not investing, it is playing crony politics in economics. that is a shame. he has done the same thing with green investing. same on him for gaming the system and giving money to politicians who write rules that make your assets go up. the real economy, if he thinks the government can take a dollar and you go do an invest or who does not have that dollar and it does not infect investment that is silly unless he lands on going to obama and getting money from a stimulus package and he considers that investment. when the government takes a dollar away from the american people or $1 trillion, that is a trillion not available to be saved and invested, and i am sorry if buffett can't see that but that is silly. >>neil: do you worry, fairly or not, you have been seen as you unique wizard of oz figure who has been able to keep republican
>>guest: okay, warren buffett has made a lot of money, some of it off of gaming the political system, he invests in insurance companies, and lobbies to raise the death tax which drives people to buy insurance. okay? you can get rich playing that game but it is not investing, it is playing crony politics in economics. that is a shame. he has done the same thing with green investing. same on him for gaming the system and giving money to politicians who write rules that make your assets go...
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Nov 27, 2012
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you have warren buffett on later today. i think his op-ed in the "new york times" is one of three live options for how you get there. a flat minimum tax for rich people or some cap on deductions, which i think is going to becoming increasingly appealing to lawmakers as they try to solve this or flat out increasing the rates, which is a non-starter for a lot of republicans. i think you're going to see a slightly higher rate with some kind of cap on deductions or alternative minimum tax for rich people. >> a combination of those two. we've got a lot more to talk about with you. monday night football highlights the eagles showing they don't need michael vick to lose a football game. will coach andy reid survive another week? looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. fre
you have warren buffett on later today. i think his op-ed in the "new york times" is one of three live options for how you get there. a flat minimum tax for rich people or some cap on deductions, which i think is going to becoming increasingly appealing to lawmakers as they try to solve this or flat out increasing the rates, which is a non-starter for a lot of republicans. i think you're going to see a slightly higher rate with some kind of cap on deductions or alternative minimum tax...
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Nov 26, 2012
11/12
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warren buffett renewing his call for a millionaire's tax. our next guest says you can raise taxes all day and not make a dent in the debt without doing one more thing. >>> later, the battle inside the democratic caucus. how ways and means senator levin explaining why democrats willing to jump off the cliff are making a huge mistake. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trad
warren buffett renewing his call for a millionaire's tax. our next guest says you can raise taxes all day and not make a dent in the debt without doing one more thing. >>> later, the battle inside the democratic caucus. how ways and means senator levin explaining why democrats willing to jump off the cliff are making a huge mistake. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from...
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Nov 26, 2012
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meanwhile, in "the new york times," warren buffett takes a dig at norquist and others while making his case for a minimum tax on the wealthy. the oracle of omaha writes, "let's forget about the rich and the ultrarich going on strike and stuffing their ample funds under their mattresses if -- gasp -- capital gains rates and ordinary income rates are increased." >>> after weeks of criticism over u.n. ambassador susan rice, senator john mccain who vowed to block her potential nomination as secretary of state appears to be backing off that threat. >> she could conceivably get your vote for secretary of state? >> i think she deserves the ability and the opportunity to explain herself and her position, just as she said. >>> actor ben affleck has long been involved in efforts to help the victims of war-torn eastern congo. on sunday he talked about his call for the u.s. to take a more active role. >> i think our actions in foreign policy, and maybe i'm naive, represent our values and represent who we are. and if any american were to go to that country and stand and see what was happening there
meanwhile, in "the new york times," warren buffett takes a dig at norquist and others while making his case for a minimum tax on the wealthy. the oracle of omaha writes, "let's forget about the rich and the ultrarich going on strike and stuffing their ample funds under their mattresses if -- gasp -- capital gains rates and ordinary income rates are increased." >>> after weeks of criticism over u.n. ambassador susan rice, senator john mccain who vowed to block her...
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Nov 27, 2012
11/12
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to another $50,000 gets you nowhere fast. >> even warren buffett says. cheryl: depending on where you live we deal with middle-class americans broke talk about the estate tax. doable for december? -- do it before december? >> call your state planner. be proactive. cheryl: 51 to leave something do it before the end of the year? >> any plans to give money away do with this year. some things you can control. dennis: not ending our life early. [laughter] what do i know? [laughter] cheryl: coming up tomorrow fox business anchor gerri willis will have more on what you need to do to get your house in order printout down 11 points. 12,955. >> breaking news. looking at the market's dow jones industrial average in the red down 12 points ann the s&p are also higher. the looking at the stock on the move looking at crocs they are up 7.5% it is rated at dubai at goldman sachs sachs -- a buy from goldman sachs looking at the entire group and locker they like those names. i showed you steve mad and they put a sell rating on that. of the they talk about visibility for ea
to another $50,000 gets you nowhere fast. >> even warren buffett says. cheryl: depending on where you live we deal with middle-class americans broke talk about the estate tax. doable for december? -- do it before december? >> call your state planner. be proactive. cheryl: 51 to leave something do it before the end of the year? >> any plans to give money away do with this year. some things you can control. dennis: not ending our life early. [laughter] what do i know? [laughter]...
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Nov 28, 2012
11/12
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warren buffett. basically this artificial deadline is not a cliff. it is a slope. the bottom line is we've got to get a good deal. something that is sustainable and durable and not hit the panic button and then try to spin what is a bad deal as a good deal because that won't be sustainable after january 1st. >> eliot: that's not only correct on substance. unless we say that, the other side will stick us up and hold us to the deadline and get us to flinch at the end which unfortunately has been the history of the white house in the last couple of years. your wisdom there, i hope they're listening loud and clear to you congressman. >> thank you. >> eliot: congressman peter welch, democrat from vermont thank you for your time. >> thanks, eliot. >> eliot: for more on grover norquist apparent diminishing influence, i'm joined by lobbyist jack abrom off the author of "capitol punishment." jack, thank you for joining us. >> thanks for having me. >> eliot: look, are you dealing and are you a defender of grover norquist but you must admit there is a new reality taking hold
warren buffett. basically this artificial deadline is not a cliff. it is a slope. the bottom line is we've got to get a good deal. something that is sustainable and durable and not hit the panic button and then try to spin what is a bad deal as a good deal because that won't be sustainable after january 1st. >> eliot: that's not only correct on substance. unless we say that, the other side will stick us up and hold us to the deadline and get us to flinch at the end which unfortunately has...
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warren buffett, jake tapper and tom colicchio. what's next? >> "the daily rundown." >>> president obama may be fighting some senate republicans willing to back a fiscal compromise. can speaker boehner find enough support
warren buffett, jake tapper and tom colicchio. what's next? >> "the daily rundown." >>> president obama may be fighting some senate republicans willing to back a fiscal compromise. can speaker boehner find enough support
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Nov 24, 2012
11/12
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let's have income tax, 15%, gift taxes, 15%, let's make sure that warren buffett finally starts paying at least as much as his secretary, in the percentage, and, what has been proposed, here, by the president, will not have warren buffett paying the same as his secretary, in percentage. let's have a flat tax, lou. let's take the president at his word. if you make more you will pay more and this is the only way that that is going to happen. >> lou: you know, i believe the speaker boehner, perhaps the president himself may have been talking to you, talking to steve forbes and others who talked about the possibility of reforming the entire tax code. that could -- >> this is a great time. you know, the kind of time... and, not only that, let's don't forget the last time that the senate had a budget, it was when harry reid worked with his friend, speaker pelosi and nobody in the 2008 budget complained that it wasn't spending enough money. let's go back to 2008. $2.5 trillion, and cuts off a trillion in spending, right there. >> lou: there are all sorts of ways to get there, as you suggest h
let's have income tax, 15%, gift taxes, 15%, let's make sure that warren buffett finally starts paying at least as much as his secretary, in the percentage, and, what has been proposed, here, by the president, will not have warren buffett paying the same as his secretary, in percentage. let's have a flat tax, lou. let's take the president at his word. if you make more you will pay more and this is the only way that that is going to happen. >> lou: you know, i believe the speaker boehner,...
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coming up next, more with legendary investor warren buffett. can you learn how to make money just like he does? and later going down. what might be the funniest and meanest elevator prank ever, but first these messages. job. tell me we'll always be together. ♪ tell me i've still got it. that our traditions matter. tell me you love me for who i am. that you can't wait to be home. tell me you're glad i've joined your family. even if i can't be there this year. just tell me. [ female announcer ] for everything they need to hear, there's a hallmark card. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ [ man ] and what did you think? i loved it. why? 'cause it's a toyota, of course! i want a car that's gonna last me for a little while. ♪ i like the bells and whistles. that's my favorite part about the car. i like the navigation. i like the entune. and it's fast. [ male an
coming up next, more with legendary investor warren buffett. can you learn how to make money just like he does? and later going down. what might be the funniest and meanest elevator prank ever, but first these messages. job. tell me we'll always be together. ♪ tell me i've still got it. that our traditions matter. tell me you love me for who i am. that you can't wait to be home. tell me you're glad i've joined your family. even if i can't be there this year. just tell me. [ female announcer ]...
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what about warren buffett's idea of the 30% minimum tax? because obviously, if you're worth hundreds of millions of dollars, you're going to have the best accountants and tax lawyers. what if you have just a flat 30% tax rate for millionaires and billionaires? is that -- is that a way forward? >> it's absolutely a way forward. and i think it should be part of any proposal. >> wait. and i said flat. i'm sorry, let me correct myself. i mean a minimum. we're talking about a minimum tax. if you make a million or more, it doesn't matter how you made it. you're going to be paying 30% to the government. >> and that is, in my mind, an absolutely important part of a proposal. it is about a $100 billion item plus or minus depending on what you're comparing it to. it makes a meaningful contribution to the $1.2 trillion we need, but you've got to do a lot of other stuff to still get there. >> to buffett's point, howard, the capital gains argument -- i said this in the earlier hour -- that somehow, by raising it from 15% to 28% in any way diminishes inv
what about warren buffett's idea of the 30% minimum tax? because obviously, if you're worth hundreds of millions of dollars, you're going to have the best accountants and tax lawyers. what if you have just a flat 30% tax rate for millionaires and billionaires? is that -- is that a way forward? >> it's absolutely a way forward. and i think it should be part of any proposal. >> wait. and i said flat. i'm sorry, let me correct myself. i mean a minimum. we're talking about a minimum...
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. >> before we get out of here, warren buffett, the op-ed in the "new york times" and we all know in the past he said he personally would welcome a tax hike. >> right. >> here is a snippet from this morning. forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattress if gas, capital gains rates, and ordinary income rates are increased, the ultra rich including me will forever pursue investment opportunities. where is the room for the gop to continue to argue against taxing the rich at a higher rate. >> there really isn't for a whole host of reasons not the least of which is politically speaking it doesn't make sense. the study you talked about at the beginning, here is what a lot of people don't realize. for many americans the way they do christmas, they take out a loan. that's how they pay for christmas presents hoping the tax return that they get back, the money they get back from the taxes will be able to pay off that loan. that's how a lot of americans are living their lives. i think the republicans have got to recognize they can no lo
. >> before we get out of here, warren buffett, the op-ed in the "new york times" and we all know in the past he said he personally would welcome a tax hike. >> right. >> here is a snippet from this morning. forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattress if gas, capital gains rates, and ordinary income rates are increased, the ultra rich including me will forever pursue investment opportunities. where is the...
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the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to have you with us this morning. and as we talk about what's taking place in washington, d.c. right now, the million dollar question is all concerns around senators lindsey graham, saxby chambliss, congressman peter king among other republicans who said they'd be willing to break away from grover norquist's anti-tax pledge. will you say if you're willing to break that pledge in order to save the country from the fiscal cliff. >> hello, thomas. and first of all, i signed that pledge two years ago, and the reason i signed it is because i think increasing tax rates, increasing the amount of money that the federal
the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to...
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warren buffett says raise tax rates on incomes over a half million dollars, that's a shift. but the president and democrats are not moving and they still say raise tax rates on the rich. on-line shopping, a very big winner and very big for retailers. 13% better than last year overall. today, on-line sales may run close to 2 billion dollars. will it last through the holidays? we've got another north african economy in absolute chaos. egypt torn by rioting after morsi takes dictatorial powers. they really need our money now. watch out, everybody, "varney & company" is about to begin. get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement peopl who are paid on sary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >> as we said, call it a cave. call it a shift. call i
warren buffett says raise tax rates on incomes over a half million dollars, that's a shift. but the president and democrats are not moving and they still say raise tax rates on the rich. on-line shopping, a very big winner and very big for retailers. 13% better than last year overall. today, on-line sales may run close to 2 billion dollars. will it last through the holidays? we've got another north african economy in absolute chaos. egypt torn by rioting after morsi takes dictatorial powers....
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let's make a pledge to warren buffett. how about that one. >> announcer: this is the "bill press show." >> bill: hey, good morning everybody. welcome to the "full court press" here on current tv. this tuesday morning. november 27. so good to see you. thank you for joining us here on the "full court press." as we tackle the big stories of the day. tell you what's going on here in our nation's capital. around the country around the globe and take your calls, of course. you're part of the conversation. we'll hear from you. how about this. with less than a month since president obama's re-election people are already talking about 2016 and here's the good news. newt gingrich yesterday said that he will seriously consider running again. keep your fingers crossed. i mean he made such a total ass of himself this time around, we can only hope that he does it all over again. to the moon! with newt! all right. that's just one of the many topics we'll be covering here on today's "full court press." but first, we start out with the lat
let's make a pledge to warren buffett. how about that one. >> announcer: this is the "bill press show." >> bill: hey, good morning everybody. welcome to the "full court press" here on current tv. this tuesday morning. november 27. so good to see you. thank you for joining us here on the "full court press." as we tackle the big stories of the day. tell you what's going on here in our nation's capital. around the country around the globe and take your...
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warren buffett says $500,000 should be the threshold. why is the president saying it's $250,000 or i am not signing it? >> kimberly: it's campaign promises. that is his political ideolog ideology. instead of what is best for the country. >> eric: put you on the spot -- >> kimberly: the math shows it won't make a difference. why is he doing it in any way? because he said he would. not good enough reason. obligation to the country. >> bob: he said he wouldn't allow tax cuts to go for people making that money. i think that between that and entitlement reform you will get a deal. >> eric: let me ask this question. i call grover norquist, what is going on here? he said read between the lin lines. only when democrats put up their end of the bargain they would negotiate. if they do, they can change the rate and close a loophole and they will violate a no norquist pledge. should they? violate the pledge they won on and run on and may change the tune. >> dana: i never liked pledges about anything. i think when you get elec elected -- right. pledg
warren buffett says $500,000 should be the threshold. why is the president saying it's $250,000 or i am not signing it? >> kimberly: it's campaign promises. that is his political ideolog ideology. instead of what is best for the country. >> eric: put you on the spot -- >> kimberly: the math shows it won't make a difference. why is he doing it in any way? because he said he would. not good enough reason. obligation to the country. >> bob: he said he wouldn't allow tax...
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Nov 22, 2012
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you're talking about the people who initially are going to get, teresa heinz kerry, warren buffett, people who have massive amounts of money. they're hit the hardest, right? >> absolutely. the proposal i wrote had an exemption for households up to $500,000 in wealth that, is exempting 80% of american households right there. >> how did you draw that line? i can imagine there is all kinds of cheating that is going to happen around that line. or even on the bentley. people are going to say it has dents and not worth very much money. how do you avoid that? >> we have a lot of cheating right now with income tax. so we might to have a higher exemption. we might to have to have slightly higher rates. i think overall fighting wealth inequality is so important. it is really wealth, not income that, affects your access to opportunity and our wealth inequality is so extreme that it's hurting our living standards in the long run. >> and 500,000, that was an arbitrary number. why did you pick that? >> well, like i said, it already exempts about 80% of american households. if you want to make a dent in
you're talking about the people who initially are going to get, teresa heinz kerry, warren buffett, people who have massive amounts of money. they're hit the hardest, right? >> absolutely. the proposal i wrote had an exemption for households up to $500,000 in wealth that, is exempting 80% of american households right there. >> how did you draw that line? i can imagine there is all kinds of cheating that is going to happen around that line. or even on the bentley. people are going to...
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. >> warren buffett was out this morning talking about tacking the wealthy. >> time to make the tax rates more progressive. >> that's just silly. >> grover norquist, he wanted ground government in the bathtub. i hope he slips in there with it. >> medicaid, social security. >> this is not part of the conversation. we're not going to raid social security. just another fight in washington. >> there's going to be blood and hair and eyeballs all over the floor. >> i'm more positive than most. >> if not, we go off the supposed cliff. >> the fiscal cliff or slope. the bump of various height. >>> thelma and louise might need to make room in the car for the president of the united states. at the white house today, senior obama administration officials met with liberal leaders and union officials. "the washington post" reports that one told him after the meeting, quote, would the white house go off the cliff if it's between that and compromising their core principles? i was left with the impression that they would. illinois democratic senator dick durbin spoke today at the liberal center for americ
. >> warren buffett was out this morning talking about tacking the wealthy. >> time to make the tax rates more progressive. >> that's just silly. >> grover norquist, he wanted ground government in the bathtub. i hope he slips in there with it. >> medicaid, social security. >> this is not part of the conversation. we're not going to raid social security. just another fight in washington. >> there's going to be blood and hair and eyeballs all over the...
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some people like warren buffett are willing to do, some high income people. it seems to me that's the price of admissions. if the only thing they mean when they say deficit reduction is cutting entitlements, that's not about deficit reduction. it's about cutting entitlements. >> the same guys that are at the trough for a bailout are now experts what we ought to do with entitlement programs in this country. i find that amazing. then mr. blankfein, he throws out a scenario which is totally unrealistic. people don't have 25-year careers. they have 40-year careers is what they have. and construction people when they get in their early 50s and they've worked for 30 years, their bodies are broken down. >> exactly. >> what are they supposed to do? hang around for another 15 till medicare and medicaid show up? they're not even living in the real world. going after entitlements is basically paying lip service to the right wing. it's just romney 2.0. that's all it is. so what should liberals in this country be prepared to accept at this point as you see it? >> well, i
some people like warren buffett are willing to do, some high income people. it seems to me that's the price of admissions. if the only thing they mean when they say deficit reduction is cutting entitlements, that's not about deficit reduction. it's about cutting entitlements. >> the same guys that are at the trough for a bailout are now experts what we ought to do with entitlement programs in this country. i find that amazing. then mr. blankfein, he throws out a scenario which is totally...
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Nov 26, 2012
11/12
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most americans think washington officials will behave like spoiled children, and warren buffett took the gop to school today, quote, let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gains rates and ordinary income rates are increased. the ultra rich, including me, says mr. buffett, will forever pursue investment opportunities. so he's calling for a minimum tax on millionaires and billionaires. will republicans listen? >> well, it's a sensible way. if we're going to have a deal, we will have to see some kind of compromise. a minimum tax on people making over $1 million a year can generate a half it trillion in a ten-year scale. if you include deductions you don't necessarily have to go to 39%. you can go to 37% if you are looking for compromise. but i think there's a bigger issue here as well, and that is the idea this is a slightly critical towards the democrats, the biggest issue that this country faces right now is getting us back to 4% economic growth, 3% or 4% economic growth and seeing wages increa
most americans think washington officials will behave like spoiled children, and warren buffett took the gop to school today, quote, let's forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses if, gasp, capital gains rates and ordinary income rates are increased. the ultra rich, including me, says mr. buffett, will forever pursue investment opportunities. so he's calling for a minimum tax on millionaires and billionaires. will republicans...
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Nov 27, 2012
11/12
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about this country. >> i never like to go against warren buffett. some say vernon hills bank had regulator problems in philadelphia. i just know that one guy is boots on the ground and other guy is boots in omaha. i think there's a difference. omaha very wealthy area by the way. >> speaking of banks and future for banks, where does the fiscal cliff fit in? stick around for santelli's live interview with sheila bair. up next -- ♪ >> coming up, jim cramer is rested. jim cramer is revved up. jim cramer is ready. six stocks in 60 seconds when "squawk on the street" returns. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in th
about this country. >> i never like to go against warren buffett. some say vernon hills bank had regulator problems in philadelphia. i just know that one guy is boots on the ground and other guy is boots in omaha. i think there's a difference. omaha very wealthy area by the way. >> speaking of banks and future for banks, where does the fiscal cliff fit in? stick around for santelli's live interview with sheila bair. up next -- ♪ >> coming up, jim cramer is rested. jim cramer...
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Nov 28, 2012
11/12
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we had warren buffett on the show yesterday. warren buffett said raising the top marginal tax rate to 39.6% wouldn't catch any of the top income earners in america. that it would not impact them at all. now why shouldn't republicans be focusing on that, the real political battle in washington today, instead of focusing on a battle they know they're going to lose, against a woman of color after they just got shellacked in the polls among people of color and females. why are they doing this? and, andrea, a bigger question, as we go to a new congress, is john mccain going to continue to have the disproportionate impact that he has on foreign policy in the republican senate caucus? mika and i talked to so many people over the past two, three years that say we want, republican senators, we want out of afghanistan but, you know what, we just sort of stay out of john's way. how many times have we heard that? >> a lot. it's disturbing. >> we hear it all the time. they stay out of his way. are they going to blindly follow and, again, i l
we had warren buffett on the show yesterday. warren buffett said raising the top marginal tax rate to 39.6% wouldn't catch any of the top income earners in america. that it would not impact them at all. now why shouldn't republicans be focusing on that, the real political battle in washington today, instead of focusing on a battle they know they're going to lose, against a woman of color after they just got shellacked in the polls among people of color and females. why are they doing this? and,...
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Nov 26, 2012
11/12
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. >> warren buffett. excellent, powerful piece "new york times" in the about taxes on the rich. he says the rich have been just beating the middle class in the economy over the past three decades. he has some great statistics. he also says this notion that rich people like him will stop working hard and investing if taxes go up is crazy. he says, i made a lot of money in the '50s, in the '60s when taxes were higher. it's time for us to pay up. a very powerful piece. >> he starts off that piece "new york times" in the saying an investor you had miadmire comesd says i've got this great deal. i'm in. you should be, too. would you reply it all depends on the tax rate on the gains i'm going to make. if the taxes are tie hioo high goes on to slap grover norquist. >> that's not fair. >> in this piece he actually says he's in favor of higher taxes for the rich. but he actually disagrees with the president at what level shah should kick in. he thinks it should be half a million. very interestingly, he says at the very, very top it should be a minimum rate of 35%. >> i think it's going to
. >> warren buffett. excellent, powerful piece "new york times" in the about taxes on the rich. he says the rich have been just beating the middle class in the economy over the past three decades. he has some great statistics. he also says this notion that rich people like him will stop working hard and investing if taxes go up is crazy. he says, i made a lot of money in the '50s, in the '60s when taxes were higher. it's time for us to pay up. a very powerful piece. >> he...
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Nov 26, 2012
11/12
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warren buffett saying this week to the president effectively, my words, not his, don't give in here. don't give in on taxes. threaten to go over the fiscal cliff. it's not going to kill the economy any worse. how does the president work his will here? how does he get to the kind of compromise that david cody wants and other ceos, while still saying i've won this election and i need to drive things in the direction i think is best? >> i think he's got to govern by the commitments made during the campaign. and i think he will. this is about fairness. why do we need to deal with the tax on the rich first? because we must assure americans we are dealing with fairness. we keep talking about shared sacrifice. there was not shared wealth and shared prosperity. so you're asking people that didn't enjoy the good times to share in paying for the tab that they never enjoyed. so i think that when we first deal with the taxes, as you raised in your first point, and then go from there talking about how we deal with entitlements and all, you have a fairer environment to govern from. but you can't p
warren buffett saying this week to the president effectively, my words, not his, don't give in here. don't give in on taxes. threaten to go over the fiscal cliff. it's not going to kill the economy any worse. how does the president work his will here? how does he get to the kind of compromise that david cody wants and other ceos, while still saying i've won this election and i need to drive things in the direction i think is best? >> i think he's got to govern by the commitments made...
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Nov 29, 2012
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. >> i think -- you know, i listened to warren buffett yesterday and i look at what's going on with these dividend deals. even at these wide stages of previous times don't see to acknowledge the realities of how tax policy alters our behavior. >> right. all right. rick santelli, thanks. steve, thanks. >> when we come back, rising above partisan politics to avoid the fiscal cliff. we will ask senator orrin hatch what each side should give up to try to avoid a debt disaster. "squawk" will be right back. n ts from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> can entitlement reform be the answer to avoid going over the fiscal clfr? senator orrin hatch things so. senator hatch, thank you very much for joining us this morning. >> happy to do so. >> you kn
. >> i think -- you know, i listened to warren buffett yesterday and i look at what's going on with these dividend deals. even at these wide stages of previous times don't see to acknowledge the realities of how tax policy alters our behavior. >> right. all right. rick santelli, thanks. steve, thanks. >> when we come back, rising above partisan politics to avoid the fiscal cliff. we will ask senator orrin hatch what each side should give up to try to avoid a debt disaster....
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Nov 26, 2012
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warren buffett taking a jab at norquist this morning in an op-ed in the "times." he says let's forget about the rich and ultrarich going on strike and stuffing ample funds under their mattresses if capital gains are increased. ultrarich will forever pursue investment opportunities. >> i thought that was right. i thought it was right. we always hear job creators. i started a lot of businesses. they never make any money at the beginning. i don't want -- a great line there. i don't want to be so successful i have to pay a lot of taxes. that's stupid. that's something from someone who never ran a business. the late george mcgovern where he discovered how hard it was to be a businessman, you don't create a job. you create a job for tremendous success but you accept losses at the beginning. you never take an investment and say i don't want to do that because i'm afraid i'll have to pay taxes. you just don't. >> regulation sort of dealing with a lot of red tape which we also hear about as an impediment. >> that's a big problem because you don't have the resources typical
warren buffett taking a jab at norquist this morning in an op-ed in the "times." he says let's forget about the rich and ultrarich going on strike and stuffing ample funds under their mattresses if capital gains are increased. ultrarich will forever pursue investment opportunities. >> i thought that was right. i thought it was right. we always hear job creators. i started a lot of businesses. they never make any money at the beginning. i don't want -- a great line there. i don't...
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Nov 26, 2012
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he's not supporting right wing -- >> stephanie: like warren buffett. all right. john fund on fox news. >> i don't think any car company deserves a loan. we've already seen what happened when general motors became government motors. it hasn't worked out well. >> what are you talking about? >> i think ronald reagan is right. when he warned businesses seeking help from the government never, never get into bed with the government. you'll never get a good night's sleep. obviously the government is going to practice carney capitalism. the government is about politics. >> wow. >> stephanie: hmm. i guess that's in the world where the auto rescue wasn't a huge success? >> i think he's viewing it through the very narrow prism of republican politics. it was not as successful as the vote in ohio and michigan and lots of other places showed. where was the "wall street journal," you know, demanding that you know, the wall street banks in 2008 not accept a penny. they should work it out themselves. that's what the market place dictates. who has received more handouts than anyon
he's not supporting right wing -- >> stephanie: like warren buffett. all right. john fund on fox news. >> i don't think any car company deserves a loan. we've already seen what happened when general motors became government motors. it hasn't worked out well. >> what are you talking about? >> i think ronald reagan is right. when he warned businesses seeking help from the government never, never get into bed with the government. you'll never get a good night's sleep....
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Nov 27, 2012
11/12
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. >> warren buffett wrote an interesting op-ed. he is a supporter of the president but said he does not favor raising rates on people making more than $250,000 but said he would support it for people making $500,000. is there an income level where you support or at least not oppose vehemently the idea of racing rates? >> again, you know, i don't think that's a constructive direction to go in. we -- you know, we could just keep adding ever more brackets, and ever more burdens on people who are productive or have a couple of good years in their business. i think all of that discourages economic growth and discourages risk taking and entrepreneurship. so i'm in favor of moving in the direction of a flatter tax system. of fewer brackets, lower rates, simplicity where we get rid of all the distortions that happen in the tax code, rather than speculating about how many different new brackets we should create. >> i want to get to benghazi. on taxes you talk about closing loopholes and reducing destructions. grover norquist says that would
. >> warren buffett wrote an interesting op-ed. he is a supporter of the president but said he does not favor raising rates on people making more than $250,000 but said he would support it for people making $500,000. is there an income level where you support or at least not oppose vehemently the idea of racing rates? >> again, you know, i don't think that's a constructive direction to go in. we -- you know, we could just keep adding ever more brackets, and ever more burdens on...
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Nov 26, 2012
11/12
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this one by warren buffett. whether he would give more of his tax dollars if given the opportunity. he says let's forget about the rich and alternate going on strike and stuffing their money under the mattress. we will look at some other opinions. a republican from tennessee, bob corker, a member of the senate banking committee. he writes in the washington post -- fred in lancaster, south carolina, good morning. caller: good morning. the one caller named interior was pretty close to being right. -- named jerry. it wants to cut taxes, how about we bring some of the foreign aid home to pay down some deficits? how about that? we are talking about obamacare. why not put a cap on a $100 aspirin at a hospital and instead say it's $10? i think that's more than enough. host: senator mike lee as a commentary in the washington times -- that is from the "washington times. mike lee is also a member of the joint economic committee. tony is our next caller in las vegas, nevada. caller: hi. on the fiscal cliff, this has been the unspoken agenda of the democratic party for a long time. they want th
this one by warren buffett. whether he would give more of his tax dollars if given the opportunity. he says let's forget about the rich and alternate going on strike and stuffing their money under the mattress. we will look at some other opinions. a republican from tennessee, bob corker, a member of the senate banking committee. he writes in the washington post -- fred in lancaster, south carolina, good morning. caller: good morning. the one caller named interior was pretty close to being...
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Nov 28, 2012
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buffett has, where people who make $1 million should pay 30%. host: the average tax percentage is about 10%. if you look it this chart here -- host: eric, rome, georgia. caller: i have an article here that says why congress will not tax the 1%. it tells you about the congressman. 261 are millionaires or billionaires'. the top republican, darrell issa, is worth $441 million. dick armey handed bush a budget for 10 years, and it squandered the surplus. what the article states is they will not raise taxes on the 1%. it is because they are the 1%. host: use of the number in that article is -- you said the number in that article is 261. caller: are millionaires or billionaires'. guest: the caller makes a good point, that the wealth of people in congress has diverged from the average wealth of americans, and a colleague of mine wrote an article looking at this trend, as over the last three years the average net worth of members of commerce has grown extremely well. -- congress has grown extremely well. i do not know if they are motivated by their own i
buffett has, where people who make $1 million should pay 30%. host: the average tax percentage is about 10%. if you look it this chart here -- host: eric, rome, georgia. caller: i have an article here that says why congress will not tax the 1%. it tells you about the congressman. 261 are millionaires or billionaires'. the top republican, darrell issa, is worth $441 million. dick armey handed bush a budget for 10 years, and it squandered the surplus. what the article states is they will not...